The Federal Government has announced that the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, is poised to resume production soon. This announcement came after a visit to the plant by the Minister of Steel Development, Prince Shuaibu Abubakar Audu. The Minister expressed satisfaction with the condition of the equipment and facilities, despite the plant’s decade-long shutdown, signaling a renewed commitment to revitalizing this key industrial asset.
Minister Audu outlined several key steps being taken to facilitate ALSCON’s reopening. He emphasized that ongoing consultations and stakeholder engagements are focused on resolving critical challenges, including securing a stable gas supply to the plant, addressing the ownership dispute between BFIG and RUSAL, and ensuring the navigability of the Imo River through dredging. These efforts, he stated, are in direct alignment with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes economic growth and job creation. Minister Audu underscored the significant investment already made by the Federal Government in ALSCON and its potential to create up to 20,000 jobs, both directly and indirectly.
The Minister highlighted the urgency of bringing ALSCON back online, noting the substantial resources currently lying dormant. He emphasized his personal commitment, as the leader of the steel industry and representative of the President, to resolving the outstanding issues, particularly the ownership tussle. He acknowledged the contributions of the current plant managers, who have invested over $400 million in the facility, and reiterated the government’s determination to overcome the remaining obstacles. ALSCON Managing Director, Zavlyalov Dmitriy, confirmed the company’s readiness to resume operations as soon as these impediments are cleared, highlighting RUSAL’s continued maintenance of the facilities and equipment, as well as their ongoing commitment to corporate social responsibility within the host community.
